Business
NIN-SIM Linkage Deadline Approaches Amid Portal Glitches
As the September 15 deadline for linking National Identification Numbers (NIN) to Subscriber Identification Module (SIM) cards approaches, many subscribers are experiencing significant difficulties with the National Identity Management Commission (NIMC) portal. This has led to widespread frustration and concern about meeting the deadline.
Adeolu Ogungbanjo, President of the National Association of Telecommunications Subscribers (NATCOMS), described the situation as “terrible” after visiting telecom centers such as MTN and Airtel. He criticized the current issues with the portal, which are preventing many from completing their NIN-SIM linkage.
“We urge the NCC and NIMC to work together to improve the portal’s capacity, reduce congestion at telecom centers, and provide adequate support staff to ensure a seamless process,” Ogungbanjo said. He expressed concern that if the issues are not addressed urgently, many subscribers may not meet the deadline.
Ogungbanjo noted that the NIMC website often experiences congestion when large numbers of people attempt to access it simultaneously. The problem is exacerbated when many people try to use the site close to the deadline.
“When you go to the NIMC office in Alausa, Lagos, you will experience the same congestion,” he explained. “It takes too much time, and it’s only seamless when not many people are trying to access the website. The congestion is likely due to many people waiting until the last minute.”
The NIMC and the Nigeria Communications Commission (NCC) had previously announced that over 153 million SIMs have been successfully linked to NIN, representing a 96 percent compliance rate. However, there is growing concern that the remaining four percent may struggle to meet the deadline due to ongoing portal issues.
In response, the NIMC has assured the public that its centers are open and fully functional. Kayode Adegoke, Head of Corporate Communications at NIMC, stated that the agency’s primary role is to provide NINs and ensure that telcos link these numbers to SIM cards. He emphasized that NIMC has adequate capacity and has never lacked resources.
Adegoke also highlighted efforts to educate Nigerians on obtaining NIN through social media and other channels to facilitate a smoother process.
The NIN-SIM linkage policy, introduced in 2020, aims to enhance national security and reduce fraudulent activities. The NCC has stated that this exercise is crucial for improving the integrity of the mobile network.
In the first half of 2024, MTN Nigeria and Airtel Africa reported barring a combined 13.5 million lines due to verification issues. MTN barred 8.6 million lines, while Airtel barred 8.7 million, with 4.9 million customers remaining unverified as of Airtel’s last update.
As the deadline approaches, both NIMC and NCC are under pressure to resolve these issues to ensure that all subscribers can comply with the NIN-SIM linkage requirements.
Business
Shehu Sani Criticizes World Bank Over Nigeria’s Economic Outlook
Former Kaduna Central Senator Shehu Sani has criticized the World Bank for worsening Nigeria’s economic difficulties. In a post shared on X, Sani accused the institution of projecting that Nigeria’s hardship would extend for another 15 years before the country could reach a better economic future. He questioned how many Nigerians would be left to enjoy that future, and how many African nations the World Bank has successfully helped to prosperity.
Sani’s remarks follow the World Bank’s latest *Africa’s Pulse* report, which forecasts that the Nigerian Naira will be among the worst-performing currencies in Sub-Saharan Africa by August 2024. The report placed the Naira’s decline alongside that of the Ethiopian Birr and South Sudanese Pound.
Business
HIG: Building Trust and Driving Innovation in Nigeria’s Insurance Market
Heirs Insurance Group (HIG) recently announced impressive financial results for the 2023 fiscal year, marking significant growth across all key metrics. The Group’s Gross Written Premium (GWP) surged by 59.3%, from N19.9 billion in 2022 to N31.7 billion in 2023. This remarkable performance underscores HIG’s resilience and operational efficiency, further solidifying its position as one of Nigeria’s fastest-growing insurance firms.
Heirs General Insurance (HGI) saw a 77% increase in GWP, reaching N12 billion in 2023. HGI’s profit before tax (PBT) also rose by 203%, reflecting the company’s effective cost management. Similarly, Heirs Life Assurance (HLA) reported a 71% GWP increase and a staggering 395% rise in PBT. Both companies have demonstrated a strong commitment to customer satisfaction, disbursing billions in claims.
Beyond financial success, HIG actively engages in corporate social responsibility (CSR) projects, contributing over N100 million to education, community development, and financial literacy. With plans for future expansion and innovation, HIG is poised to remain a key player in Nigeria’s evolving insurance market.
Business
Wike Urges Nigerians to Pay Taxes for Improved Social Services
Federal Capital Territory (FCT) Minister, Nyesom Wike, has called on Nigerians to fulfill their tax obligations, emphasizing that government revenue is essential for delivering social services. Wike made this appeal during the inaugural Abuja Business and Investment Summit, held in Abuja on Wednesday.
Speaking on the summit’s theme, “Optimising Investment Through Partnerships,” Wike stressed the importance of collaboration to generate investment opportunities. He dismissed the misconception that the government does not need revenue, explaining that taxes are crucial for funding public services.
Wike reiterated that both investors and the government must benefit from such partnerships, ensuring that both parties “go home smiling” through a fair exchange of services and taxes.
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